Of late, the problem of tenants not paying has become more of a widespread issue than ever before. As such, selling an investment home in Saint Paul MN so that one can recoup some of his or her losses has become quite an attractive offer. And most of this is all due to the eviction moratorium.
For many landlords, real estate investors, and property owners throughout the country, the eviction moratorium has had quite a significant negative impact. Due to the guidelines set by the CDC, the eviction moratorium has left many investors collecting little to no rent. But what do you do when your tenants aren’t paying up? Regrettably, as the order drags on, many investment property owners can no longer afford to take the loss.
If you have to sell, you may automatically turn to selling your house with a real estate agent. However, there are many other home sale options that you can also consider to get this done, most of which won’t require you to wait for long periods of time or spend large sums of money during the process.
In this blog, we are going to expand on some of the best ways that local homeowners can go about selling their properties in Saint Paul MN when their tenants aren’t paying. For more property sale tips, you can also read up on 5 ways baby bloomers can sell their house.
Ways to Sell Your Investment Property When Tenants Aren’t Paying in Saint Paul MN
Read on to discover some of the top home sale options you can use to sell your investment property.
1. Sell Your House with a Real Estate Agent
Attracting the average investor to a listing in today’s real estate market is extremely difficult, if not nearly impossible for those who may be trying to sell their Saint Paul investment property when their tenants aren’t paying. The fact that your tenants are protected under the order is not something that will go unnoticed. It will affect a buyer’s timeline (when they can move into the property) so be prepared to be completely forthright regarding your tenant’s current status. Another issue with listings would be the inevitable showings. This will mean that arrangements with tenants to show your investment property will need to be made far in advance. Be prepared to cover the expenses for photography and marketing, as well as those for repairs and updating the property on both the interior and exterior. Added to these are your agent’s commissions and fees.
2. Sell Your House Via an “FSBO” Listing
The other option is to list your Saint Paul investment property as “FSBO” (for sale by owner). This will mean that you are committing to do all of the work of selling your house in Saint Paul by yourself. When doing this, the most important piece of information that any buyer will be seeking is the monthly income realized from the investment property. As such, you will want to be fully prepared to provide them with this information, as well as to share any arrangements you have already made with your tenants for partial payments, under the guidelines of the CDC order.
By handling showings yourself, you also won’t have to worry about that one terrible tenant, that you can’t kick out, bad-mouthing your property to your buyer. This also eliminates situations where you’ll have to deal with buyers asking you questions during showings in front of your tenants as well. However, one issue that you may have to deal with would be having tenants that are home full-time. This causes difficulty for tenants to keep a unit spotless just in case there is a showing.
3. Sell Your House Directly to FastPath Home Buyers
Ready for a quick, painless, and easy solution? Try selling directly to our company, FastPath Home Buyers.
Direct buyers typically close much faster than traditional buyers. They also purchase homes “as-is”. This can mean thousands of dollars in savings for you because you won’t have to worry about repairs or update bills! Here at FastPath, we will also buy your property with full awareness of your tenants current standing under the order. So why not sell your Saint Paul investment property directly to us when your tenants are not paying?
Leave all of your worries behind! What’s your best option? Well, that’s a simple question. Sell your Saint Paul MN investment property to FastPath Home Buyers when your tenants are not paying. Sellers can expect quick, simple, stress-free transactions from FastPath Home Buyers. Give us a call or send us a message and we’ll discuss the steps you can take to receive your personalized, no-obligation offer. Call (612) 351-2384 today to learn more!
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